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Updated over 2 years ago on .

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Henry Lazerow
  • Real Estate Agent
  • Chicago, IL
2,342
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1,828
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Wholesalers listing deals in our MLS- Is this legal?

Henry Lazerow
  • Real Estate Agent
  • Chicago, IL
Posted

Noticed some wholesalers listing their properties in our MLS and then not sending the offers to the actual owner and giving quick denials when price isn't high enough for them to make the wholesale fee? Isn't this considered a breach of fiduciary duty that realtors must provide all offers to the seller? Wondering if I can get them in legal trouble by going to the local and state licensing boards. The managing broker also wholesales and seems in on the schemes. Sellers tend to be older and have no idea whats really going on when their property is tied up by these wholesalers, the process seems very predatory and I would love to help put a stop to it.